Cryptocurrency Analysis and News Portal
Several private banks in South Korea are studying the potential of tokenized deposit technology, an alternative to both private stablecoins and central bank digital currencies (CBDCs). According to a report from Maeli Business News Korea, Hana Bank and Woori Bank — both private enterprises with headquarters in Seoul — showed interest
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The South Korean central bank (BOK) has published its 2022 Payment and Settlement Systems Report. Oversight of the systems was carried out successfully, the report said, and it is getting ready for a future with central bank digital currency (CBDC) and is discussing stablecoin regulation broadly.The BOK-Wire+ fast payment system
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South Korea’s Shinhan Bank has completed its second proof-of-concept using stablecoins for international remittances. Siam Commercial Bank’s SCB TechX unit and an unnamed Taiwanese financial institution also participated in the project.The project carried out real-time settlement and foreign exchange integration with the banks’ national currencies on the Hedera network. The
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This was more than 50% of the total trading volumes on UpBit in that period. Data shows market depth stood at nearly $5 million as of Asian morning hours, suggesting ample liquidity for the tokens as a $5 million buy or sell order would move the tokens only 2% on
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According to a report by local news outlet Digital Asset, South Korean crypto lending firm Delio is currently under investigation by the country's Financial Services Commission (FSC) as of June 30. The Commission alleges fraud, embezzlement, and breach of trust related to Delio's unilateral decision to suspend users' deposits and
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"Nazarali explained that they felt confident that litecoin and bitcoin cash, as derivatives of bitcoin, were not securities. While there is some interest, it is not substantial," Lawrence Lewitinn, The Tie Director of Content and host said in Wednesday's edition of the newsletter. Source
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Earlier this month, Haru Invest halted withdrawals and deposits. Source
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Delio, a virtual asset manager and lending platform based in South Korea, has announced the temporary suspension of customer withdrawals “in order to safely protect the assets of customers currently in custody.”The company made the decision in response to the recent suspension of digital asset deposits and withdrawals at Haru
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Atomic Wallet, a noncustodial decentralized wallet, has been hit by a staggering exploit, leading to users reporting losses of their entire cryptocurrency portfolios. This unforeseen breach has sent shockwaves through the crypto community, as Atomic Wallet’s fundamental premise relies on users assuming full responsibility for storing their assets securely. The losses
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The firm blamed the pause on a “certain issue” with one of its service partners, and said it is working on a contingency plan, according to a blog update. Original Source
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